Iran – Last Chance Saloon? May 12th is the next deadline for the US to waive oil related sanctions on the Iranian government.
The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Donald Trump has taken the much anticipated decision to repeal sanctions relief for Iran, ending a near 2.5 years period of unfettered exports from the Islamic Republic. Market participants have been given a 180-day grace period, but we could see many adjust much sooner.
The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Sanctions are back. From Monday any company trading Iranian crude faces being cut out of the US financial system. The Trump Administration has stated its aim is to reduce Iranian shipments to zero, although few expect this to actually be the case. The Administration appears to have softened its stance, perhaps realising that zero exports are both unrealistic, and potentially economically damaging in terms of oil prices. This morning Bloomberg has reported that waivers are likely to be granted to eight countries, with the official confirmation expected early next week.
The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

As we move closer to the November 5th re-imposition of sanctions against Iran, the impact is starting to become more noticeable for the tanker market.
The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

From a crude oil market perspective, 2016 can be summed up as “eventful”. In January, the international sanctions on Iran were lifted, resulting in a very swift increase of their oil production capacities and subsequent re-entry into the global oil export market.